Britain faces flooding bill of ‘£12bn a year’ by the 2080s

Britain could face a bill of billions of pounds a year to combat flooding in the next few decades.

A cyclist attempts to cycle through floodwater in Ayr (Picture: Maurice Morwood/Alamy)

The country will also suffer water shortages, droughts and diseases such as needle blight, a real danger to the timber industry.

However, climate change could allow new crops to be grown and tourism to increase as temperatures get milder, according to the first national assessment of the effect.

And thousands of cold-related deaths â between 3,900 and 24,000 â are likely to be avoided in winter by the 2050s.

The £2.8million project highlights 100 threats Britain could face from global warming without further steps, such as new flood defences.

The costs of floods could rise from £1.2billion a year to £12billion by the 2080s.

Environment secretary Caroline Spelman said: âThis research shows what life would be like if we stopped our preparations now, and the consequences such a decision would mean for our economic stability.â

She added that the assessment provided opportunities for British firms to develop innovative products and services to tackle the risks.

Lord Krebs, chairman of the group that advises the government onÂ climate change, said: âWithout an effective plan to prepare for the risks from climate change, the country may sleepwalk into disaster.â

In the study, threats were assessed against three scenarios for potential climate change, ranging from low temperature rises if emissions are cut drastically to large rises if little action is taken.

The report will feed into a national programme to adapt to climate change â some of which is in effect â which will be published next year.

Britain is already vulnerable toÂ extreme weather â the 2007 summer floods cost Â£3billion in England â so the government has several initiatives including Â£2.1billion to be spent on flood defences and coastalÂ erosion over the next four years.

The report warns the threats will be greater in other countries, so British companies could provide services such as insurance to them.